Younger generations lag parents in wealth-building

 

Source: Annie Lowery, New York Times ( Free Registration )

WASHINGTON — Pearl Brady has a stable job with good benefits and holds two degrees, a bachelor’s and a master’s. But despite her best efforts, she has no savings, and worries that it will be years before she manages to start putting away money for a house, children and eventually retirement.

“I’m in that extremely nervous category,” said Ms. Brady, 28, a Brooklynite who works for a union. “I know how much money I’m going to be making for the near term. I hope in my 30s and 40s to be able to save, but I have no idea how. It’s scary.”

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money management, savings, spending, budgeting

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